Disclosed is a low-cost non-oriented electrical steel plate with an extremely low aluminum content, which plate comprises the following chemical elements in percentage by mass: 0.003% or less of C, 0.1%-1.2% of Si, 0.1%-0.4% of Mn, 0.01%-0.2% of P, 0.003% or less of S, 0.001% or less of Al, 0.003%-0.01% of O, 0.003% or less of N, and 0.005%-0.05% of Sn, with the condition Si 2 /P: 0.89-26.04 being satisfied. In addition, further disclosed is a method for manufacturing the non-oriented electrical steel plate. The method comprises steps of (1) smelting; (2) continuous casting; (3) hot rolling: wherein a hot rolled plate is subjected to soaking and heat preservation by means of residual heat of hot rolled steel coils, rather than being subjected to normalizing treatment or cover furnace annealing after coiling; (4) primary cold rolling; and (5) continuous annealing. In the non-oriented electrical steel plate of the present invention, reasonable chemical ingredients and process designs are used, and the non-oriented electrical steel plate not only has excellent economy, but also has the properties of high magnetic induction and low iron loss.